Bank of New York Mellon Corp Has $25.33 Million Stock Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

Bank of New York Mellon Corp decreased its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,650,299 shares of the real estate investment trust’s stock after selling 14,196 shares during the quarter. Bank of New York Mellon Corp owned about 0.69% of Apple Hospitality REIT worth $25,332,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of APLE. Victory Capital Management Inc. boosted its position in shares of Apple Hospitality REIT by 11.9% in the 3rd quarter. Victory Capital Management Inc. now owns 6,737,959 shares of the real estate investment trust’s stock worth $100,059,000 after purchasing an additional 718,844 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Apple Hospitality REIT by 1.1% during the third quarter. Geode Capital Management LLC now owns 5,761,364 shares of the real estate investment trust’s stock worth $85,571,000 after acquiring an additional 62,149 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Apple Hospitality REIT by 0.4% during the third quarter. JPMorgan Chase & Co. now owns 5,243,575 shares of the real estate investment trust’s stock worth $77,867,000 after buying an additional 18,858 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Apple Hospitality REIT by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,457,063 shares of the real estate investment trust’s stock worth $66,187,000 after buying an additional 182,917 shares in the last quarter. Finally, Systematic Financial Management LP raised its position in Apple Hospitality REIT by 11.0% in the 3rd quarter. Systematic Financial Management LP now owns 2,099,877 shares of the real estate investment trust’s stock valued at $31,183,000 after buying an additional 207,256 shares during the last quarter. 89.66% of the stock is owned by institutional investors.

Apple Hospitality REIT Price Performance

NYSE:APLE opened at $14.68 on Monday. The stock has a market capitalization of $3.52 billion, a PE ratio of 17.26 and a beta of 1.12. Apple Hospitality REIT, Inc. has a 1-year low of $13.60 and a 1-year high of $16.99. The firm has a fifty day simple moving average of $15.07 and a 200 day simple moving average of $15.16. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $333.04 million during the quarter, compared to analysts’ expectations of $330.11 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. On average, research analysts expect that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 6.54%. The ex-dividend date is Friday, February 28th. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 109.09%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wells Fargo & Company reduced their price target on Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Bank of America upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and increased their target price for the stock from $16.00 to $17.00 in a report on Monday, January 27th. BMO Capital Markets initiated coverage on shares of Apple Hospitality REIT in a research report on Monday, December 9th. They issued an “outperform” rating and a $18.00 target price for the company. Finally, StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Apple Hospitality REIT currently has a consensus rating of “Moderate Buy” and an average price target of $16.80.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.